Microsoft partners African Development Bank to support young African entrepreneurs

AFRICA – Global tech giant Microsoft has announced an expanded partnership with the African Development Bank’s Youth Entrepreneurship Investment Bank (YEIB) Initiative to support young African entrepreneurs. Microsoft’s Africa Transformation Office has pledged to work with the bank to ensure growth in entrepreneurship ecosystems, creating jobs and scaling impact in Africa through digital inclusion. “We believe much can be done…

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Nigerian B2B digital marketplace Vendease secures US$30m funding to expand operations

NIGERIA – Vendease, a Nigeria based online marketplace that allows restaurants and other food businesses to stock up their supplies, access financial services and power their business operations, has raised US$30 million in an equity and debt funding round. This comes after the Y Combinator-backed digital platform raised a US$3.2m seed round last October, with a focus to consolidate its…

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Ignite Investment launches equity crowdfunding platform for Ethiopian startups

ETHIOPIA – Ignite Investment Inc. has developed an equity crowdfunding platform that links Ethiopian startups with investors from the diaspora who are interested in investing in Ethiopian companies. By giving equity in their business to a large number of individual investors contributing relatively modest amounts of money, entrepreneurs can obtain financing through a process known as equity crowdfunding. Ignite is…

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Online brokerage firm Bamboo officially launches its services in Ghana

GHANA – Bamboo, a Nigerian online brokerage firm that allows Africans to invest real time in local and foreign asset classes, has announced its official launch in Ghana. Bamboo offers a wide range of premium investing content and education tools tailored to users who are new to investing in U.S. stocks. “We believe strongly that all Africans should earn a…

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Fintech FairMoney partners Oradian to accelerate market growth

AFRICA – FairMoney, a credit-led mobile banking platform for emerging markets in Africa and Asia, has partnered with Oradian, a cloud-based core banking system, to power its next stage of growth and product innovation. Oradian services over 10 million banking customers, working with more than 50 tech lenders, banks and financing companies in 13 countries across Africa and Asia. Their…

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Absa Bank Kenya partners Huawei to build new digital foundation for branch networks

KENYA – Huawei Technologies and Absa Kenya have announced a new partnership to build a new platform to drive the bank’s corporate digital transformation program. The partnership involves establishing a software-defined wide area network (SD WAN), hailed as the next-generation technology and service designed to connect the bank’s branches, and promote smart branch upgrades by constructing a powerful network based…

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Canadian oil and gas company ReconAfrica acquires half of NAMCOR’s shares in Kavango basin

NAMIBIA – Reconnaissance Energy Africa (ReconAfrica), a Canadian oil and gas company, has announced that it has entered into a definitive purchase and sale agreement with its partner, Namcor Exploration and Production (NAMCOR). The partnership is to acquire half of NAMCOR’s 10% carried participating interest in the approximate 6.3 million acres petroleum exploration licence (PEL 73) in the Kavango basin,…

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Renewable energy services provider Starsight Energy and SolarAfrica Energy merge their business

SOUTH AFRICA – Renewable energy services provider, Starsight Energy, and South African-based solar firm, SolarAfrica Energy, have announced their merger agreement. This merger makes them one of the continent’s leading solar players with a genuine pan-African footprint to provide competitive, full-service renewable energy and energy efficiency solutions to the C&I sector The merger, which is subject to standard regulatory approvals…

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Clickatell partners with Central Bank of Nigeria to provide eNaira banking service

NIGERIA – Clickatell, a leader in global mobile messaging and pioneer in mobile technology, has partnered with the Central Bank of Nigeria (CBN) to deliver eNaira banking services to all Nigerians using the USSD channel. The two partners have launched a USSD channel for its eNaira Central Bank Digital Currency (CBDC) as part of the country’s drive to make basic…

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Scatec signs power purchase agreement for construction of solar PV facility in Botswana

BOTSWANA – Renewable energy solutions provider Scatec and the Botswana Power Corporation (BPC) have signed a binding 25-year power purchase agreement (PPA) for the construction of a solar photovoltaic (PV) facility with a contracted capacity of 50 MW at Selebi Phikwe. Scatec owns 100% of the project and will be the designated engineering, procurement and construction company, asset manager, and…

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